A factory that makes perfection look like a hobby

In 2016, I organized our annual Japan Study Mission, but we weren’t just doing the standard ‘bowing at robots’ tour of Kaizen powerhouses. It was a surreal experience. My business partner, Kenji Kitamura, a man who basically has Toyota DNA instead of white blood cells – led us into the Toyota Tahara factory, where he worked as a junior engineer in 1979.

That’s why even after 10 years, I could still recall this vivid experience.

Kenji-sensei moved through the place like a man revisiting a sacred temple. It was so precise it made my wristwatch look like a drunken Ninja master trying to read a sundial in a thunderstorm.

The moment we entered, I knew it wasn’t our usual industrial field trip. Even the silence felt engineered. If someone dropped a screw, I suspect three engineers would file a report while two would redesign gravity even without management prodding.

I was trying not to breathe too hard and disrupt production flow. And so were my clients who were equally impressed and at the same time intimidated by the idea that a misplaced eyebrow hair could probably violate quality standards.

We weren’t just touring the birthplace of Lexus-level perfection. We stood in the same spot where New York Times columnist Thomas Friedman was inspired to write The Lexus and the Olive Tree (1999). He saw globalization. I saw something more important – a workforce so disciplined that even their coffee breaks arrived just-in-time.

At one point, I stared at a perfectly aligned car door panel of a displayed model and caught my reflection – clear enough to check my haircut. It was then I realized: this wasn’t just manufacturing. It was choreography. Every movement had a purpose. Every second had a job. Even my blinking felt inefficient.

It hit me. If perfection had a headquarters, this was the closest thing the auto industry has to a manufacturing cathedral. But don’t rush to visit Toyota Tahara. Today, it has become extremely difficult to visit the factory and other Toyota facilities due to its many restrictions since the pandemic.

The Lexus vs the balete tree

In The Lexus and the Olive Tree, Friedman uses a simple but sticky metaphor: the Lexus stands for globalization, progress and economic growth; the olive tree represents identity, roots and what gives people a sense of belonging. For us Filipinos, the olive tree is equivalent to the magnanimous balete tree.

Let’s turn that into some real work to understand today’s oil supply issue. It’s a contest between progress and identity. We’ve spent years treating them like two neighbors who refuse to share a fence. Many of us want both – until the bill arrives in the form of an oil crisis.

Today’s energy problem isn’t just about supply shocks and rising prices. It’s about how we think. Governments want economic expansion powered by reliable fuel supply. Societies want clean air and continuous livelihood for its citizens. Businessmen want sustainable profit.

In practice, we treat these as competing goals, forcing a choice between driving the Lexus or protecting the balete tree. That’s the mistake.

The oil crisis persists because we frame it as an either-or decision. It’s like trying to lose weight without giving up dessert – possible in theory, but disastrous in execution. What we need is integration, not substitution.

For governments, that means investing in renewable energy while protecting consumers and workers who depend on oil-based industries. For businesses, it means funding innovation that makes clean energy profitable, not just compliant.

For managers, it means translating strategy into behavior. And to help people see that change is not a threat to their identity but a path to preserving it. Leadership here is less about technology and more about empathy. People don’t resist progress; they resist losing what defines them.

The real challenge is not choosing between the Lexus and the balete tree. It’s building a future where the Lexus runs clean and is parked carefully, without uprooting the tree that gives it meaning.

Solving the oil crisis requires integration, not substitution. We must go beyond the ‘either-or’ mentality that pits economic progress against cultural identity. True leadership involves building a sustainable future where the Lexus runs clean without uprooting the trees that give our lives meaning.

Fernandez, Saga advance in Philta Men’s National Open

University of the Philippines bet Lance Jacob Fernandez barged into the third round after beating Hilbert San Jose, 6-0, 7-6 (3), Tuesday in the Philta Men’s National Open at the Rizal Memorial Tennis Center.

Fernandez, seeded No. 13, will be up against Kyle Andrei Saga, who scored a 6-1, 6-1 victory over Frank Nhiele Dilao.

Saga is a member of the University of the East Junior Warriors who won the UAAP Season 88 crown last March. They also won the 2025 PCA Juniors team title.

“It’s anybody’s game, I’ll just to my best,” said the 20-year-old Fernandez, who ousted third seed Elbert Anasta, 3-6, 6-0, 6-3, to reach the 2025 PCA Men’s Open quarterfinals where he lost to Nilo Ledama, 4-6, 3-6.

No. 3 John Benedict Aguilar, No. 8 Ronard Joven, No. 9 Jarell Edangga and No. 10 Josshua Kinaadman also secured third-round slots in the Group A event supported by Tecnifibre and Philippine Sports Commission.

Aguilar downed Christopher Sonsona, 3-6, 6-1, 6-3; Joven clobbered Marco Suntay, 6-1, 6-1; Edangga demolished Joshua Ferrer, 6-0, 6-0; and Kinaadman whipped Andrei Padao, 6-2, 6-2.

Other winners were France Vhielle Dilao, Alysson Cabanilla, Mac Alcoseba, Christian Padill, RJ Dela Fuente, John Jeric Accion, Elvin Joseph Geluz and Steffano Gurria.

Salmon raises $100 million for digital banking push

Salmon Group has secured $100 million in fresh capital to accelerate its expansion in the Philippines, combining new equity from global investors and a public bond issuance to scale its lending and digital banking operations.

In a statement, the technology-driven financial services firm said the funding round includes $60 million in equity and $40 million in debt, marking a ‘significant milestone’ as it ramps up its presence in one of Southeast Asia’s fastest-growing consumer finance markets.

The transaction was ‘significantly oversubscribed,’ reflecting strong investor appetite despite volatile global market conditions and signaling confidence in the company’s growth strategy, it added.

US-based venture firm Spice Expeditions led the equity tranche, with participation from Washington University Investment Management Co., Moore Strategic Ventures, FJ Labs and existing backers.

Proceeds will be used to expand product offerings, strengthen distribution across the Philippines and boost the capitalization of its banking arm.

‘This round is validation of what we have been building – an always-on bank and financial services super-app for every Filipino, run with discipline and a long-term mindset,’ said Pavel Fedorov, co-founder of Salmon Group.

He said the fresh capital would allow the company to ‘move faster on every front: more products, more reach, even greater capitalization of Salmon Bank and better experience for our customers.’

Alongside the equity raise, the company issued $40 million in public bonds under its existing $150-million Nordic bond program, priced at an effective yield of 13.7 percent. The bonds were placed with global fixed-income investors and will fund the expansion of its lending portfolio.

Salmon said the dual-tranche structure diversifies its funding base and supports sustained balance sheet growth while maintaining ‘a disciplined approach to capital management.’

Founded in 2022, Salmon is backed by international investors including the International Finance Corp., ADQ/Lunate and Antler, alongside Filipino stakeholders, as it seeks to expand its footprint in Southeast Asia starting with the Philippines.

EJ preps for outdoor season

EJ Obiena said yesterday he’ll open the outdoor season possibly in the first week of June while now focusing on intense training to regain his lofty standing in the world pole vault ladder. Once ranked No. 2, Obiena has dropped to No. 12 but is gearing to slowly break back into form. ‘We opt to start later to have ample time to prepare and work on things,’ said Obiena from his base in Formia, Italy.

The outdoor season hasn’t started and the schedule of competitions is still not set. ‘EJ aims to do many of the Diamond League meets,’ noted Obiena’s adviser Jim Lafferty. ‘High motivation and feeling good. I’m confident he’ll be healthy all season long. We figured out the back situation and it was quite a story. He’s got some other aches and pains which is normal after a decade at his level. I sense it’s going to be a good season.’

Obiena’s plan is to stay in Formia for hard training without enduring the hassles of travel. ‘He’s in the loading phase now,’ continued Lafferty. ‘Not much jumping, just strength and speed work. Then, it will progress to lots of jumping. Coach Vitaly (Petrov) and EJ agreed and I also agreed. An athlete needs a proper build-up period after off-season. He never had an off-season to just train. He went basically right to the SEA Games then right to indoors. He didn’t get reps in vaulting, just flying around and never got in a groove.’

The strategy is to skip the first weeks of the outdoor season and concentrate on reps. ‘When EJ starts, he’ll be in a strong place,’ said Lafferty. ‘During indoors, he was literally the only guy on the tour who had to compete in December. Everyone else was working on jumps and preparing. We have to take time to just train. Competitions throw everything off. You have to keep peaking and the travels are tough. He’s now doing it right, six weeks of just training.’

AboitizPower unit boosts disaster preparedness in Cebu community

Efforts to reinforce disaster preparedness and basic health services in Cebu’s coastal communities are gaining traction, as AboitizPower subsidiary East Asia Utilities Corporation (EAUC) expands its community investments in Barangay Ibo, Lapu-Lapu City.

The initiative reinforces a broader push by private-sector energy firms to strengthen local resilience in areas exposed to recurring typhoons and climate-related risks-particularly among coastal households and school communities.

In late March, roughly 200 pupils from Ibo Elementary School were provided with emergency ‘go bags’ equipped with first-aid kits, flashlights, whistles and basic tools.

The program aims not only to supply immediate response materials but also to embed disaster awareness at an early age, particularly among children living in hazard-prone zones.

Leonardo Robel Jr., vice-president for corporate services at AboitizPower’s Transition Business Group-Visayas, said the intervention addresses a persistent gap in household-level preparedness.

Barangay captain Rose Macasaol noted that the assistance-alongside parallel infrastructure upgrades-has had a tangible impact on daily safety and emergency readiness.

Beyond the school-based program, EAUC has installed 24 solar-powered streetlights across key thoroughfares, improving visibility in previously underlit areas and reducing risks for residents and motorists. The barangay health center has also undergone targeted upgrades, including the addition of a dedicated doctor’s room to support consultations and primary care services.

Leonardo Robel Jr., vice-president for corporate services at AboitizPower’s Transition Business Group-Visayas, said the projects reflect a sustained partnership model with host communities, combining infrastructure support with health and safety initiatives.

The rollout was implemented in coordination with local stakeholders, including barangay officials, the Lapu-Lapu City Health Office and Aboitiz Foundation, Inc., the group’s social development arm.

EAUC operates a 50-megawatt bunker oil-fired power facility in Lapu-Lapu City, supplying energy to Cebu’s industrial corridor.

Its community programs form part of a wider effort by Philippine power producers to align operational footprints with social investment strategies in vulnerable localities

Andrew Garfield, Claire Foy star in ‘The Magic Faraway Tree’

Long before the world knew the name Harry Potter, a generation of British children were already dreaming of secret doors and hidden magical realms.

This year, the literary spark that fueled the imaginations of the world’s most celebrated fantasy authors finally leaps onto the big screen.

“The Magic Faraway Tree,” based on the beloved 1943 series by Enid Blyton and starring award-winning actors Andrew Garfield and Claire Foy, will arrive in Philippine theaters on April 22 through Pioneer Films.

While the film honors its 1940s roots, director Ben Gregor brings the story into the 21st century by following Tim and Polly Thompson (Garfield and Foy) as they relocate their three technology-addicted children to the countryside to escape a corporate scandal.

In the woods behind their new home, the children discover the Faraway Tree, rekindling their family bond through adventures that prove imagination is more powerful than any screen.

Also starring in the film are Nicola Coughlan as Silky, Nonso Anozie as Moonface, Jessica Gunning as Dame Washalot, Dustin Demri-Burns as the Saucepan Man, Oliver Chris as Mr. Watzisname, Jennifer Saunders as Grandma Thompson, and Rebecca Ferguson as Dame Snap.

Blyton is also famous for writing “Noddy,” “Famous Five,” “Secret Seven,” “Malory Towers,” and the “Five Find-Outers,” many of which have been adapted for the screen.

BOP deficit widens to $2.64 billion in March

The Philippines’ balance of payments (BOP) deficit widened in March, as persistent external pressures and higher import costs continued to weigh on the country’s external position.

Data released by the Bangko Sentral ng Pilipinas (BSP) showed that the BOP recorded a $2.64-billion deficit in March, bringing the cumulative shortfall for the first quarter to $5.29 billion. The latest figure was wider than the $1.97-billion deficit recorded in the same month last year.

The BOP reflects the country’s transactions with the rest of the world, including trade, investments and financial flows. A deficit indicates that more dollars flowed out of the economy than came in during the period.

Alongside the wider deficit, the country’s gross international reserves (GIR) declined to $106.6 billion as of end-March, 5.9 percent lower than the $113.26 billion as of end-February.

Despite the drop, the BSP said the reserve buffer remains adequate to shield the economy from external shocks.

‘This level of reserves remains an adequate external liquidity buffer, equivalent to seven months’ worth of imports of goods and payments of services and primary income,’ the central bank said.

The GIR also covers about 3.9 times the country’s short-term external debt based on residual maturity, indicating sufficient capacity to meet near-term foreign obligations.

Reserves consist of foreign-denominated securities, foreign exchange holdings and other assets including gold, which the BSP said help ensure enough dollar liquidity to meet import requirements, service external debt and manage currency volatility.

SM Investments Corp. group economist Robert Dan Roces said the wider BOP deficit reflects both structural and cyclical pressures on the external account.

‘The wider BOP is largely a function of a still-elevated trade gap – imports holding up on strong domestic demand – now compounded by higher oil prices and tighter global liquidity. Elevated US rates are dampening portfolio inflows, while geopolitical risks are pushing up the import bill and risk premia,’ Roces said.

He added that a return to surplus this year is unlikely, with the more plausible scenario being a narrower but manageable deficit.

‘A return to surplus this year looks unlikely. The more realistic path is a narrower but manageable deficit, with improvement hinging on lower oil prices, easing global rates and steady inflows from remittances, business process outsourcing and foreign direct investment,’ he said.

Roces also noted that the deficit should not immediately be seen as a warning signal.

‘Importantly, a deficit at this stage is not a red flag – it reflects an economy investing and expanding, with import demand tied to growth and capacity-building, and remains sustainable as long as core inflows and reserves stay intact,’ he said.

The BSP expects the country’s BOP deficit to hit $7.8 billion this year, equivalent to 1.5 percent of gross domestic product. It expects the shortfall to widen further to $8.5 billion in 2027 or 1.6 percent of GDP.

Jins premieres new stores with its most versatile eyewear yet

Japanese eyewear brand JINS previewed its most versatile eyewear yet in time for the unveiling of its refreshed space at the SM Mall of Asia.

JINS’s modern, minimalist space became the perfect backdrop for JINS Airframe Zero Gravity Balance Design Collection, the ultra-lightweight eyeglass frames designed to feel almost weightless for all-day wear, while engineered to have the stylish and clean, minimalist aesthetics the brand is famous for.

JINS has sold over 26 million units of its JINS Airframe eyewear worldwide.

The JINS team welcomed the exclusive group of media and key opinion leaders in the lifestyle segment, and led the celebrations with a festive coin toss as the store formally launched its reopening last April 11.

Shoppers can also have the JINS shopping experience in its refreshed space in the SM Aura store in Taguig City.

With the new store designs, customers enjoy their JINS shopping experience in the modern, minimalist space inspired by JINS’ global store aesthetics of clean lines and bright ambiance.

The new store layout makes for seamless browsing thanks to the clearer product displays that make choosing eyewear an enjoyable journey for the thousands of JINS fans who come to the store for the precision eye exams, fast service and high-quality lenses that the Japanese brand is known for.

The new JINS stores will be the best place to try on the Airframe Zero Gravity Balance, which sports the advantages offered by Japanese precision and design. The Airframe Zero Gravity Balance has better weight distribution and enhanced balance.

This ultra-lightweight option is ideal for daily wear. The soft, flexible materials are engineered to adapt to the wearer’s face shape and reduce pressure points. This makes the Airframe Zero Gravity Balance the best choice for those craving flexibility to transition from work to casual wear with the assurance of exceptional durability to withstand daily, constant use without losing its original shape. Yet the comfort doesn’t come at the expense of style. The upgraded frame structure of the Airframe Zero Gravity Balance is flexible enough to have sleek, modern silhouettes with clean, minimalist aesthetics.

This means versatile, colorful designs that communicate an effortless style to match any occasion.

Removal of unfinished pumping station in Quezon City begins

The Department of Public Works and Highways (DPWH) has started removing an unfinished pumping station in Quezon City, which the local government said worsened flooding in the area.

DPWH Secretary Vince Dizon and Mayor Joy Belmonte inspected yesterday the removal of parapet wall and sheet piles constructed as part of the now-aborted Matalahib creek pumping station in Barangay Talayan.

Belmonte had flagged the project, which initially cost P95.99 million, after it was implemented without coordination with the city government.

The project was awarded by the DPWH first engineering office to a joint venture of St. Timothy Construction Corp. and Pilastro Builders and Development Inc. in May 2024.

Belmonte said the project, which violates the country’s water and building codes, did not obtain the necessary permit from the city government.

Belmonte met with DPWH officials last year and secured a commitment that the P250 million needed to complete the pumping station would be used for projects aligned with the city’s drainage masterplan.

Based on an assessment by the Quezon City engineering department, the Matalahib Creek pumping station has worsened flooding in Barangay Talayan.

The DPWH outlined three interventions to solve flooding in the area: removal of barriers or flood control structures, continuous dredging of the San Juan River and construction of detention and retention basins.

Navotas landfill firefighting continues

As Metro Manila’s air quality remains ‘unhealthy’ due to the burning Navotas sanitary landfill, efforts to extinguish the smoldering fire continue.

Authorities are deploying more heavy equipment and soil to douse the fire that broke out at the garbage dump on April 10.

Public Works Secretary Vince Dizon said intensifying firefighting efforts is needed as smoke continues to affect nearby provinces, including Bulacan and Bataan.

Dredgers, bulldozers, dump trucks and backhoes are being used to aid personnel and cover exposed burning areas with soil, Dizon said.

With a new access road built, the delivery of equipment has improved, eliminating the need for barges and allowing continuous movement of machinery into the area.

‘We continue to place soil over the hotspots beneath the piles of trash to suppress the fire,’ Navotas Mayor John Rey Tiangco said.